South African property magnate Stephen Brookes’s holding in Balwin Properties has dropped by $2 million over the past two weeks, mirroring a decline in the Johannesburg-based developer’s share price on the JSE.
According to data tracked by Billionaire.Africa Brookes’s stake in the Johannesburg-based developer has fallen by R37.48 million ($2.01 million) as Balwin Properties’ shares trade lower on the Johannesburg Stock Exchange (JSE).
Balwin shares slump 11.58 percent
Balwin Properties, renowned for its large-scale estates tailored to South Africa’s low-to-middle-income population, prides itself on offering affordable and environmentally efficient apartments with innovative lifestyle amenities for residents.
Real estate mogul Stephen Brookes established Balwin Properties in 1996. He presently retains a controlling 36.08-percent stake in the Johannesburg-based developer, equivalent to a total of 170,374,031 ordinary shares.
Over the past two weeks, Balwin Properties’ shares on the JSE have dropped by 11.58 percent, falling from R1.9 ($0.1018) on March 20 to R1.68 ($0.0900) at the time of drafting this report.
Brookes’ Balwin Properties stake dips
As a result of the recent decline in shares, the market value of Brookes’ stake in Balwin Properties has plunged by R37.48 million ($2.01 million) over the past two weeks, decreasing from R323.71 million ($17.34 million) to R286.23 million ($15.33 million).
Despite the recent slump, Stephen Brookes remains a prominent figure in the South African real estate landscape, with his influence and investments reaching beyond Balwin Properties. He maintains his status as one of the most esteemed investors on the JSE.
